The current spot price of gold is $2,656.41. But what will it be a few months or years from now?
From earlier today we have a self-proclaimed expert saying:
Gold Won’t Save You From Historic Market Bubble Bursting: Henrik Zeberg
“I think gold is actually in a kind of a smaller bubble by itself now,” Zeberg stated. “I think you’re going to see a rather strong decline in gold to the very reasons that I just said talked about here.”
Zeberg’s bearish stance on gold is rooted in his expectation of a deflationary bust. As the economy contracts and inflation falls, the US dollar is likely to strengthen, making gold a less attractive asset.
“I don’t want to hold gold into that environment,” he said. “I actually think it’s a very bad environment to hold gold.”
From an entire panel of experts on October 22nd:
Latest Gold Price Forecast & Predictions | Gold Eagle
Gold Forecast 1 Year
Bullish: $3,200
Medium-term price drivers:
US dollar, bear market in stocks and recession, investor sentimentGold Forecast 3 Years
Bullish: $4,825
Long-term price drivers:
US dollar, US budget deficits, central bank monetary debasement, negative real interest rates, and the potential for an uptick in sovereign buying.
I’m reminded of something an old engineer I knew many years ago was fond of saying:
The wonderful thing about standards is that there are so many to choose from.
Computer Networks, 2nd ed., p. 254.
Andrew Tannenbaum emitted a lot of really quotable lines, including that.
Another that might apply here is a line from John Maynard Keynes:
“Markets can remain irrational longer than you can remain solvent.”
Kurt
“The wonderful thing about standards is that there are so many to choose from.”
Boy howdy.
The problem with gold prices is the fact that there being manipulated (London! cough, cough), and not allowed to float on actual mining/marketing/money and supply. True market forces.
But as long as were pouring trillions of dollars a year on over-inflated assets? It’s to the moon, Alice.
If Trump and DOGE can hold the line on money supply? It might hover.
Were forced to examine the facts that gold is a commodity, while dollars are an exchange medium.
Gold will always be worth something. Not so for paper.
But just like standards of today, both are being manipulated.
Nobody can tell you what the future will bring…but what can’t be argued is the fact that gold can NOT be inflated. The criminals in power can’t magically CREATE it like they can dollars. So it will ALWAYS have value. Even if the criminals in power pass laws and declare it doesn’t. History doesn’t lie. Gold has always mattered. So has silver. Ink on paper has a history also. And it isn’t a stable one.
I can’t say for gold, but I can for silver. Silver market is currently inflated because the DOJ is paying way over cost for silver to be used in the chips for guided missles being sent to the Ukraine. It’s a government induced inflation.
I imagine gold can’t be far off.